For Sale
$2,500,000

1945 Southgate PkwyCambridge, OH 43725

95-Room Hotel, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
114
This 95-key Quality Inn in Cambridge, Ohio, presents a compelling investment opportunity. Built in 1973, this two-story, exterior-corridor hotel is situated on a 9.8-acre lot with frontage on Southgate Parkway (22,125 vehicles per day) and Interstate-70 (41,598 vehicles per day). The property boasts consistently high occupancy rates, achieving penetration indices of 92% and 122% in 2022 and 2023, respectively. While occupancy is strong, the Average Daily Rate (ADR) presents an opportunity for increased revenue. Indices of 82% and 79% in 2022 and 2023, respectively, indicate potential for growth through strategic rate management. The hotel benefits from diverse demand generators, including tourism, medical, higher education, and commercial activity. A partial property improvement plan (PIP) has already been completed, including the payoff of solar panels, reducing utility costs. The property includes banquet/meeting space, offering an additional revenue stream. Offered at $2,500,000 ($26,000 per key), this fee-simple interest property is unencumbered by debt or third-party management. A hands-on operator can leverage the existing strong occupancy and implement strategies to significantly increase ADR and overall profitability.

Highlights

  • 9.8-acre land parcel.
  • $26,000 per key price.
  • Absentee-managed; 79% ADR penetration, 92% occupancy (2022), 122% occupancy (2023).
  • Significant upside potential for owner-operator through improved sales and revenue management.
  • Features a banquet/meeting space generating supplemental income.
  • Partially completed property improvement plan (PIP); solar panels fully paid, reducing operating expenses.

Property Details for 1945 Southgate Pkwy

Property type
Hospitality properties, Hotels
Year Built
1973

Location Insight

City
Cambridge
County
Guernsey
State
Ohio
Latitude
40.0054289
Longitude
-81.5750713
1945 Southgate Pkwy, Cambridge, Ohio

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1945 Southgate Pkwy
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